Drink Up: MillerCoors to Create Chicago Jobs
Posted on July 30, 2008
Earlier this month, MillerCoors announced it would bring its new headquarters to Illinois, and in turn would create hundreds of Chicago jobs.
According to a press release from the State of Illinois, the company’s agreement to bring the headquarters to Chicago – a $39.5 million investment – will result in an $18 million state investment package for the company. The move comes as part of Governor Rod R. Blagojevich’s Opportunity Returns program, an economic development strategy to create jobs and build the state’s economy.
“We are very excited to be working with MillerCoors to help establish its corporate headquarters in Illinois,” Blagojevich said. “MillerCoors’ choice of Chicago for its headquarters again reinforces what we already know – Illinois has great people and resources. This investment will contribute to a stronger regional economy, which will help create new jobs in the state and opportunities for the company to grow in the future.”
MillerCoors‘ move to the Windy City is expected to create 300 to 400 new jobs as well as retain 25 existing positions. The company is the result of a merger between the country’s second and third largest brewers currently located in Milwaukee, WI. and Golden, CO.
“The decision to select Chicago as the location for our corporate headquarters was made to achieve our goal of becoming the best beer company in America by having access to an attractive base of talent, transportation and business resources,” said MillerCoors President Tom Long. “We are grateful to the State of Illinois and City of Chicago for their support.”
The investment plan between the state and MillerCoors, administered by the Illinois Department of Commerce and Economic Opportunity, will allow for corporate income tax credits for 15 years, job training funds and a grant to offset initial expenditures.
“The addition of MillerCoors presents a tremendous opportunity for the state to strengthen our local economy and add a valuable corporate citizen to our community,” said DCEO Director Jack Lavin. “It also places MillerCoors in a strong position to grow
its U.S. operations, by locating within a major business epicenter in a growth environment and increasing accessibility to world class talent and business services. By making investments such as these, we’re investing in new jobs for people and creating economic development for the entire region.”